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2021 South Carolina Code of Laws
Title 11 - Public Finance
Chapter 57 - Iran Divestment Act
Section 11-57-710. Exception to investment prohibition on case-by-case basis.
Universal Citation: SC Code § 11-57-710 (2021)
Notwithstanding Section 11-57-700, an investment may be made in a person engaged in investment activities in Iran as described in Section 11-57-300, on a case-by-case basis, if:
(1) the investment activities in Iran were made before the effective date of this act, the investment activities in Iran have not been expanded or renewed after the effective date of this act, and the person has adopted, publicized, and is implementing a formal plan to cease the investment activities in Iran and to refrain from engaging in any new investments in Iran; or
(2) the investor makes a determination that the investments are necessary to perform its functions.
HISTORY: 2014 Act No. 267 (H.3021), Section 1, eff September 7, 2014.
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